Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.78% against the USD and closed at USD1494.60 per ounce, amid rise in the US Treasury yields.
In the Asian session, at GMT0300, the pair is trading at 1499.10, with gold trading 0.30% higher against the USD from yesterday’s close.
The pair is expected to find support at 1491.10, and a fall through could take it to the next support level of 1483.10. The pair is expected to find its first resistance at 1508.10, and a rise through could take it to the next resistance level of 1517.10.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
